Professor Elam
Accounting & Investing Info for San Antonio A & M
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Category: Financial Acct
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Monday July 23 2012 Here is a link to a recent academic study in which 169 CFOs admitted to manipulating earnings. And so America's accountants become America's fiction writers.
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Monday July 23, 2012 We study Return on Investment in accounting. Apple gets paid for its products faster than it has to pay to make them. So Apple has lots of income and an increasing Return on Assets. This is a good explanation of managing a balance sheet.
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Monday July 16 2012 The IASB which oversees the IFRS regrets the lack of interest by the SEC. That would be the International Accounting Standards Board that oversse the International Financial Reporting Standards wonders why the Securities and Exchange Commission is still dragging its feet over adopting IFRS. I suspect the reason is that US firms…
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Thursday July 5, 2012 The world of derivative trading gets larger and larger. Recently JPM CEO Jamie Dimon was reduced to telling Congress he was more worried about Europe than his recent $2 B loss, thanks to his own London Trading 'Whale.' Now rumors have it that the loss was more than that.. I suggest accounting students…
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Tuesday July 3, 2012 Microsoft overpiad for aQuantive – by about $6.2 billion of the $6.3 B purchase price. Companies must write down investments if they are not worth projected cash flows. aQuantive is an on line advertising uh whatever. MSFT bought this to compete with Google. Meanwhile Google paid half this price for Doubleclick and has made money. …
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Wed June 6, 2012 Barry Ritholtz author of Bailout Nation discusses several prominent books about the fincial crisis of 2008. The earlier link I provided on BB did not work. We will ask all students to read this fine summary of what happened. This will also acquaint you with some of the best selling books on…
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Memorial Day Weekend Mark Hulbert suggests FB is worth $13.80. Looks like he is about right to me..
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May 23, 2012 This writer believes Facebook is too big to succeed! The insiders dumped their stock on the public and got rich. FB was valued at 33 times its advertising revenue. Google by contrast is valued at 5.5 times revenue. So FB was way over priced. We learn fundamentals of valuation by studying accounting. This is…
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Thursday May 17, 2012 Here is a good analysis of Transocean RIG. I looked up It's the Earnings that Count. It is available on Kindle for a reasonable $15. This may be one to add to the reading for Intermediate II.
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Wed May 16, 2012 Ron Johnson the new JC Penny CEO is discovering what it is like to be a retailer without an exclusiv e 20 item line of sought after products. The stock dropped 14.7 % – yesterday. The company had double the loss expected last quarter and is suspending the dividend as it sees…
Professor Elam 